Wish is reportedly raising $500 million

Wish, a San Francisco-based company whose e-commerce mobile app that’s taken off in the U.S. and Europe by making it easy to buy everything from slippers to jackets to cosmetic brushes for rock-bottom prices, is raising $500 million in new funding at a valuation higher than its previous valuation of $3.5 billion but lower than $5 billion, reports Recode.

CB Insights had turned up a Delaware filing a week ago that showed a new round of funding is in the works. Recode now reports that Temasek, the investment firm owned by the government of Singapore, is among the lead investors in the financing.